Grow Financial Federal Credit Union

What Grow Financial Federal Credit Union does

Grow Financial Federal Credit Union is a not-for-profit, member-owned financial cooperative headquartered in Tampa, Florida, serving approximately 300,000 members across West Central Florida and South Carolina. Founded in 1955 as MacDill Air Force Base Federal Credit Union, the institution operates a full-service retail banking platform offering deposit products (Basic Savings, Money Market, Certificate/IRA Accounts, Business Checking), consumer and business credit cards (Visa Rewards, Cash Rewards, Preferred, Secured variants), personal loans, auto loans, residential mortgages (Fixed, ARM, Jumbo, FHA/VA/USDA, Home Equity), commercial lending (CRE, Equipment, Lines of Credit), and wealth-management services delivered through an LPL Financial partnership. Its distribution model combines multiple physical store locations and Interactive Teller Machines with a mobile banking application (iOS/Android) and online banking platform integrated with QuickBooks for business members.

The technology stack centers on a conventional digital banking platform, with member-facing channels including the Grow Mobile Banking app, online account management, and a dedicated business online/mobile banking experience. In January 2026, Grow Financial expanded its partnership with Alkami Technology to deploy the MANTL Onboarding & Account Opening Solution, reducing account opening to five minutes online or ten minutes in-branch. Merchant payment processing is delivered through Global Payments, payroll services through an ADP referral partnership, and investment services through LPL Financial — together constituting an integrated small-business banking ecosystem rather than a technology platform play.

The business model is a traditional credit union net-interest-margin model combined with fee and interchange revenue. Primary income derives from interest on loans (auto, mortgage, personal, business, credit card), supplemented by deposit account fees (overdraft, wire transfers), credit/debit card interchange, and referral fees from the LPL Financial investment partnership. Pricing is publicly disclosed and competitive for the segment: Money Market APYs up to 2.12%, Certificate APYs up to 3.97%, auto loans as low as 4.75% APR, and home mortgages from 5.875% to 6.125%. The institution is federally chartered, NCUA-insured, and operates without equity holders, reinvesting surplus into member rates, fees, and community programs including the Round Up Give Back charitable initiative across 12 local nonprofit partners.

Name

Grow Financial Federal Credit Union

Legal name

Grow Financial Federal Credit Union

Website

https://growfinancial.org

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Grow Financial Federal Credit Union is a not-for-profit, member-owned financial cooperative founded in 1955, serving approximately 300,000 members across West Central Florida and South Carolina with full-service retail, business, and mortgage banking.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending
• Commercial lending
• Mortgage financing
• Credit union membership

Headquarters

HQ city

Tampa

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income: Primary revenue from interest earned on loans including auto loans, home mortgages, personal loans, and credit cards. Interest is charged on various lending products at competitive rates.
2. Deposit Account Fees: Revenue from various banking fees including overdraft fees, wire transfer fees, and other service charges. No monthly maintenance fees on most accounts.
3. Credit Card Transaction Fees: Interchange fees from credit and debit card transactions. Members earn cashback rewards and points on purchases.
4. Investment Services Referral: Referral fees from investment services partnership with LPL Financial for retirement planning and investment management.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Grow Financial Federal Credit Union is a not-for-profit, member-owned financial cooperative that provides deposit accounts (savings, checking, money market, certificates, IRAs), consumer lending (auto, mortgage, personal, credit cards), business banking (checking, loans, lines of credit, merchant services), and wealth management through an LPL Financial partnership. The institution serves approximately 300,000 members through physical stores, online banking, and a mobile app across West Central Florida and South Carolina.

Product overview

Grow Financial Federal Credit Union offers a comprehensive suite of financial products and services through a unified credit union platform. The core offering centers on deposit accounts (Basic Savings, Checking, Money Market, Certificate/IRA Accounts) that form the foundation of membership, supplemented by credit products (Visa Credit Cards, Personal Loans, Auto Loans, Home Loans, Commercial Loans) and wealth management services. The product portfolio spans personal banking (checking accounts with CashBack rewards, youth savings through Bugg Club, Health Savings Accounts, retirement accounts), business banking (Business Checking, Business Credit Cards, Commercial Real Estate Loans, Equipment Loans, Lines of Credit), and home financing (Fixed and Adjustable Rate Mortgages, Home Equity Loans, FHA/VA/USDA Loans). Additional value-added services include investment advisory through LPL Financial partnership, mobile/online banking with QuickBooks integration, merchant payment processing via Global Payments, and the Round Up Give Back charitable rewards program. The credit union serves nearly 300,000 members across West Central Florida and South Carolina, operating under a not-for-profit, member-owned structure insured by the NCUA.

Differentiator

Problem solved

Functional benefit

Products and services

• Basic Savings Account Entry-level savings account requiring a $1 initial deposit that serves as the gateway to credit union membership, earning dividends credited quarterly and qualifying members for other Grow products and services.
• Bugg Club Youth Savings Youth savings program for children 10 and younger that offers stamp rewards for deposits of $10 or more redeemable for toys from a treasure chest.
• Health Savings Account (HSA) Tax-advantaged savings account for qualified health expenses available to members with high-deductible health plans, including a Grow Visa HSA debit card.
• Money Market Account Tiered-rate savings account offering competitive dividends with no minimum balance requirement, combining checking-like accessibility with higher savings rates (APY up to 2.12%).
• Certificate Account Term savings account with locked-in competitive rates on balances starting at $500, terms ranging from 6 to 60 months with APYs up to 3.97%.
• IRA Certificate Account Retirement-focused certificate account offering tax-advantaged savings with the security of a Certificate Account plus potential tax advantages.
• Get Fit Account Savings account offering higher APY than Basic Savings with a $100 bonus when the account reaches $10,000, featuring no early withdrawal fees.
• Club Account Goal-based savings account for specific milestones such as holidays, college, or vacation, requiring $5 minimum deposit.
• Traditional and Roth IRA Individual retirement accounts offering tax-deductible contributions (Traditional IRA) or after-tax contributions with potentially tax-free qualified distributions (Roth IRA).
• Grow CashBack Checking Checking account that pays 5 cents cashback for each qualifying Visa debit card transaction, with no monthly fees or minimum deposit requirements.
• Checkless Checking Bank On Certified fee-free digital checking account without paper checks, designed for managing money through online and mobile banking.
• Grow Visa Consumer Credit Cards Suite of consumer Visa credit cards including Rewards, Cash Rewards, Preferred (low-rate), and Preferred Secured variants with introductory APRs from 1.99% to 8.99% and no annual fees.
• Personal Loans Suite of unsecured personal loans including Signature Loans ($500+ at 9.75%-17.99% APR), Share Secured Loans (up to 100% of existing Grow account funds), and Overdraft Protection ($500-$1,000).
• Investment Services Investment and retirement planning services provided through partnership with LPL Financial, offering retirement accounts, tax planning, estate planning, and education savings.
• Round Up Give Back Program Debit and credit card rewards program that rounds up purchases to the next dollar, with 50% going to selected local charities and 50% entering sweepstakes for prizes.
• Grow Business Checking Business checking account with no monthly service fee or minimum balance, including direct deposit, online/mobile banking, Bill Pay, and Visa debit card.
• High-Yield Business Checking Interest-bearing business checking account earning dividends on balances of $10,000 or more, with no transaction limits and 24/7 accessibility.
• Grow Visa Business Credit Cards Business credit cards including Rewards and Secured variants with introductory APR 1.99% to 8.99%, no annual fees, no balance transfer fees, and rewards points.
• Commercial Real Estate Loan Financing for business property purchase or expansion, featuring flexible terms, no application fees, and no prepayment penalties.
• Equipment and Vehicle Loan Customized financing for business equipment or vehicle purchases, with flexible terms, no application fees, and no prepayment penalties.
• Business Line of Credit Revolving credit line for covering short-term operating expenses, managing cash flow, or funding business improvements as needed.
• Merchant Services Payment processing solutions through Global Payments partnership, enabling businesses to accept debit, credit, chip cards, and mobile wallets with fraud protection.
• ADP Payroll Services Exclusive discount program for ADP payroll management services, including payroll processing, tax filing, HR compliance, and new hire reporting.
• Home Mortgage Loans Residential mortgage products including Fixed-Rate Mortgages (10/15/20/30-year), Adjustable-Rate Mortgages (3/1, 5/1, 5/5, 10/1), Jumbo Loans, FHA/VA/USDA government-backed loans, and Home Equity Loans.
• Grow Mobile Banking App Mobile application for iOS and Android enabling account access, check deposits, balance monitoring, wire transfers, and business account management with QuickBooks integration.

Quantifiable outcome

• Account opening time reduced to 5 minutes online or 10 minutes in-branch with MANTL solution
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature1 record

Partnerships

Six partnerships are on record, tiered core and minor.

• Alkami TechnologycoreTechnology or Integration · 21 January 2026Grow Financial expanded its partnership with Alkami Technology to adopt the MANTL Onboarding & Account Opening Solution, streamlining digital and in-branch retail account opening processes for nearly 300,000 members. The solution enables members to open new deposit accounts in five minutes or less online and within ten minutes in-branch.
• Bisk AmplifiedminorStrategic or Co-development Partner · 10 October 2025Bisk Amplified partnered with Grow Financial to provide employees with access to industry-relevant courses and certification programs designed to enhance skills and support career growth, offering complimentary educational resources from top universities.
• LPL FinancialcoreStrategic or Co-development PartnerGrow Financial Retirement & Investments has contracted with LPL Financial to provide investment services, offering retirement planning and investment management through LPL Financial Advisors in West Central Florida.
• Global PaymentscoreTechnology or IntegrationPartnership with Global Payments for merchant services providing payment processing solutions for small to mid-sized business members. Global Payments helps merchants accept all major payment types including debit, credit, chip cards, and mobile wallets.
• ADPminorGTM or Marketing PartnerExclusive discounts on ADP payroll management services offered to business members. ADP provides payroll management, tax filing, and HR compliance services.
• Local Charity Partners (12 organizations)minorGTM or Marketing PartnerRound Up Give Back program partners with 12 local nonprofit organizations including Tampa YMCA, The Kind Mouse, University Area CDC, CASA/GAL, Celebrate Birthdays, Children's Dream Fund, Friends of U.S. Military Families, Feeding Tampa Bay, Grow Financial Foundation, HOPE Family Services, Humane Society of Tampa Bay, Kids Helping Kids Pasco County, Pace Center for Girls, and Seeds of Hope.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• First Horizon Bank: Regional commercial bank with significant Florida presence offering deposits, mortgages, and business banking. A broader-incumbent competitor in the same geographies and product categories.
• Alliant Credit Union: Large digital-first national credit union offering high-yield deposits and full digital banking. Competes with Grow Financial on deposit pricing and digital UX, particularly for younger members.
• Navy Federal Credit Union: Largest U.S. credit union with a military-affiliated origin similar to Grow Financial's MacDill AFB roots. Operates nationally at far greater scale and competes for military and former-military members across Grow Financial's footprint.
• PenFed Credit Union: Large national credit union offering mortgages, credit cards, and deposits with a member-cooperative structure parallel to Grow Financial. A broader-scale peer for lending and deposit products.

Direct peers

• GTE Financial: Tampa Bay-area credit union with comparable personal, business, and mortgage products targeting a similar member profile. Direct overlap in physical branch geography and product mix.
• MIDFLORIDA Credit Union: Central Florida credit union offering personal, business, and mortgage products to a community-banking-style member base. Direct competitor in many of the same West Central Florida geographies Grow Financial serves.
• VyStar Credit Union: Florida-headquartered credit union with overlapping deposit, mortgage, and business banking offerings and a similar not-for-profit cooperative structure. Comparable member segments in Florida and broader Southeast.
• SchoolsFirst Federal Credit Union: California-based federal credit union of broadly similar size and product breadth (deposits, mortgages, business, wealth). Useful comparable for scale, federally chartered operating model, and member-base dynamics.
• Achieva Credit Union: Florida-based credit union offering deposit, lending, mortgage, and business banking products with a comparable community cooperative positioning to Grow Financial.
• Suncoast Credit Union: Large Florida-based credit union serving a comparable Tampa Bay-area member base with a similar full-service product mix (deposits, mortgages, auto, business banking, wealth). Closest geographic and scale comparable to Grow Financial.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/growfinancial
• Facebookfacebook.com/growfinancial
• LinkedInlinkedin.com/company/growfinancial
• Instagraminstagram.com/growfinancial
• Xx.com/growfinancial

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Grow Financial Federal Credit Union